The National Empty Homes Loan Fund launches today
- 02 Sep
A scheme aimed to bring England's empty homes back to use in order to tackle the housing shortage in England launches today.
A joint initiative between Empty Homes, Ecology Building society, central government and 39 participating local authorities are aiming to bring as many of the 710,000 empty homes in England back into use as possible.
Last year's Great British Property Scandal demanded the fund as part of their campaign, led by architect and broadcaster George Clarke.
Mr Clarke said: ‘I care passionately about getting England's empty homes back into use for people who need them. This scheme provides real help to property owners to help achieve that.'
The scheme is set to provide loans of up to £15,000 to owners of empty properties to help them back into affordable use. This is because currently, owners of empty homes struggle to access funds to regenerate them.
The National Empty Homes Loan Fund will give people access to loans at a fixed 5% interest rate, which will enable owners to renovate the property to Decent Homes standard. The NEHLF have been funded by a grant of £3 million from central government and is being administered by Ecology Building Society, a specialist mortgage lender that supports sustainable communities.
David Ireland OBE, chief executive of Empty Homes, said: ‘We know that many homes are empty because it is difficult for owners to raise the money that is required to bring them back up to a habitable standard. This initiative will kick-start efforts to tackle this.
‘This scheme is a real first in England and is a great example of central government working together with the public and private sector to try and reduce the number of empty homes in the UK.
‘We hope the fund will enable hundreds of empty homes to be brought back up to standard and back into the housing stock.'
Communities minister Don Foster said: ‘I'm delighted that this loan fund, backed with Government cash, will help bring hundreds of empty homes back into use across the country.
‘This innovative new scheme will ensure properties that would otherwise have stood empty for many months can offer stable homes for people in need.'
The loans are five year loans and have fixed interest rate of 5% to the owners of empty properties. To be eligible for an NEHLF loan you must:
• Be the owner of an empty property in England that has been empty for six months or more.
• Be over 18 years old.
• Not borrow more than 70% of the property's value in total (including the loan).
• Have the ability to repay the loan.
- 10 Mar
THE STATUS OF THE SOCIAL CARE SECTOR REQUIRES IMPROVEMENTs
It was also found that the social care sector has the following characteristics:Social care seems like an adjunct to the NHS instead of being an important service in its own right. While the...
- 29 Apr
Scottish Welfare Fund grants see a 13% rise in applications
Data from the Scottish Government has shown that the number of applications to councils under the Scottish Welfare Fund has increased by 13% in just the last year, reports The Courier.Over the most...
- 16 Jan
Local welfare assistance funds held back by councils
The Centre for Responsible Credit using Freedom of Information requests carried out a study which found that 127 local authorities spent 52.8% of their £148.5m sharing of the local welfare...
- 13 Jan
Landlord scheme has saved the NHS thousands of pounds
The groups - Oldham Council, Oldham Clinical Commissioning Group (CCG) and Oldham Housing Investment Partnership - consist of 10 social landlords who co-invested in the ‘Warm Homes Oldham'...
- 05 Jan
Calls for NHS funding
Stevens also called for an end to the ‘boom-bust' approach. Stevens told the Financial Times he hoped for more annual funding in addition to the £2bn lifeline that the Chancellor, George Osborne,...
- 30 Dec
New Fundraising Campaign Launched by Hospital Charity
The campaign encourages its supporters to partake in its ‘Every £1 Counts' fundraiser by making a donation and sharing a ‘pound selfie' on Facebook and Twitter throughout January.The charity are...
- 08 Dec
Home care sector facing crisis due to workers’ wages
A study by contractor Mears and the Local Government Information Unit have reported that councils should ensure they pay providers to enable them to pay ‘at least' minimum wage salaries.Liberal...
- 06 Oct
Supported housing service for women and their children has received funding for community garden
Endeavour Housing Associaiton's Rainham House temporary accommodation service has been awarded funding for their Roots and Shoots garden project. Working in partnership with community allotment...
- 03 Oct
Social landlords urged to make do without grants
Speaking to Inside Housing at the Conservative Party conference this week, Mr Lewis said: "If housing associations want to survive without government funding, that's a good thing."He said it would...
- 02 Oct
Supporting People budget cut by £10m by the Welsh government
A draft budget shows the government announcing plans to cut the budget for Supporting People from £134.4m in 2014/15 to £124.4m in 2015/16 which is a drop of 7.4%, reports Inside Housing.Despite...
Exempt Accommodation, Welfare Reform and Vulnerable Tenants Everything was extremely useful. I like to hear about the updated case law and how things are changing. Also like to hear other delegates examples and the responses to their difficulties. Support solutions are excellent. K.B- Jephson Housing Association